Cost of purchase
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 May 2014
I have Query in income tax,
ABC Ltd. is manufacturer of Durries and B company is supplier. ABC ltd. Received a Bill from B company for supply of Purchase in following details of Goods :-
Item Nos. Rate Amount
1.Durries Nos10000 @120 1200000.00
Fast Working @ 20/- 200000.00
Total Bill Amount 1400000.00
Now Query is amount charged for fast working by buyer is treated as cost of purchase or extra Incentive?
If Extra Incentive treated TDS will applicable on such amount ?
ABC Ltd. is manufacturer of Durries and B company is supplier. ABC ltd. Received a Bill from B company for supply of Purchase in following details of Goods :-
Item Nos. Rate Amount
1.Durries Nos10000 @120 1200000.00
Fast Working @ 20/- 200000.00
Total Bill Amount 1400000.00
Now Query is amount charged for fast working by buyer is treated as cost of purchase or extra Incentive?
If Extra Incentive treated TDS will applicable on such amount ?
Guest
Guest
(Expert)
27 May 2014
its not an extra incentive it will be a part of cost of durries....
Rupesh Jain
(Expert)
28 May 2014
it is cost for timely delivery of goods.
it parts of goods.
it parts of goods.
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